Carvana Stock Sinks In Late Trade With Earnings Due Wednesday

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Carvana (CVNA) said late Tuesday that it will report earnings for the second quarter early Wednesday, bringing the date up from Aug. 3. Carvana stock plunged in extended trading.

The online used-car seller on June 8 announced an improved Q2 outlook. It said that was “based on even stronger anticipated results from its continued plan to drive profitability.”

Analysts are sharply divided about its prospects ahead of the report.

Carvana Stock

CVNA stock dived nearly 10% in late Tuesday trade. Shares had rallied nearly 9% in heavy trade to 39.80 in the regular stock market session.

Year to date, Carvana stock has skyrocketed nearly 740%, including a 352% jump in the past three months.

Check back for Carvana earnings updates Wednesday.

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